Dissertation/Thesis Abstract

Bounded rationality in decision making under uncertainty: Towards optimal granularity
by Lorkowski, Joseph A., Ph.D., The University of Texas at El Paso, 2015, 217; 10000752
Abstract (Summary)

Starting from well-known studies by Kahmenan and Tversky, researchers have found many examples when our decision making seems to be irrational. We show that this seemingly irrational decision making can be explained if we take into account that human abilities to process information are limited. As a result, instead of the exact values of different quantities, we operate with granules that contain these values. On several examples, we show that optimization under such granularity restriction indeed leads to observed human decision making. Thus, granularity helps explain seemingly irrational human decision making.

Similar arguments can be used to explain the success of heuristic techniques in expert decision making. We use these explanations to predict the quality of the resulting decisions. Finally, we explain how we can improve on the existing heuristic techniques by formulating and solving the corresponding optimization problems.

Indexing (document details)
Advisor: Kreinovich, Vladik
Commitee: Longpre, Luc, Starks, Scott A.
School: The University of Texas at El Paso
Department: Computer Science
School Location: United States -- Texas
Source: DAI-B 77/06(E), Dissertation Abstracts International
Subjects: Computer science
Keywords: Bounded rationality, Decision theory, Fuzzy uncertainty, Irrational behavior
Publication Number: 10000752
ISBN: 9781339411781
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